75.68 USD
-0.03 (-0.04%)
75.68 USD
0 (0%)
Overall INDB gets a fundamental rating of 4 out of 10. We evaluated INDB against 388 industry peers in the Banks industry. Both the profitability and financial health of INDB have multiple concerns. INDB has a correct valuation and a medium growth rate. Finally INDB also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
INDB had positive earnings in the past year.
INDB had a positive operating cash flow in the past year.
In the past 5 years INDB has always been profitable.
Each year in the past 5 years INDB had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 0.72%, INDB is doing worse than 64.43% of the companies in the same industry.
INDB has a Return On Equity of 5.07%. This is in the lower half of the industry: INDB underperforms 76.80% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.72% | ||
| ROE | 5.07% | ||
| ROIC | N/A |
ROA(3y)1.2%
ROA(5y)1.02%
ROE(3y)7.94%
ROE(5y)6.99%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
With a Profit Margin value of 23.04%, INDB perfoms like the industry average, outperforming 43.56% of the companies in the same industry.
In the last couple of years the Profit Margin of INDB has declined.
The Operating Margin and Gross Margin are not available for INDB so they could not be analyzed.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | 23.04% | ||
| GM | N/A |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y5.31%
PM growth 5Y-3.04%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
INDB does not have a ROIC to compare to the WACC, probably because it is not profitable.
INDB has less shares outstanding than it did 1 year ago.
The number of shares outstanding for INDB has been increased compared to 5 years ago.
Compared to 1 year ago, INDB has an improved debt to assets ratio.
2.2 Solvency
The Debt to FCF ratio of INDB is 1.80, which is an excellent value as it means it would take INDB, only 1.80 years of fcf income to pay off all of its debts.
INDB has a Debt to FCF ratio (1.80) which is in line with its industry peers.
A Debt/Equity ratio of 0.10 indicates that INDB is not too dependend on debt financing.
The Debt to Equity ratio of INDB (0.10) is better than 67.53% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.1 | ||
| Debt/FCF | 1.8 | ||
| Altman-Z | N/A |
ROIC/WACCN/A
WACC11.75%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 10.22% over the past year.
The Earnings Per Share has been decreasing by -4.31% on average over the past years.
Looking at the last year, INDB shows a quite strong growth in Revenue. The Revenue has grown by 13.10% in the last year.
INDB shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.29% yearly.
EPS 1Y (TTM)10.22%
EPS 3Y-4.78%
EPS 5Y-4.31%
EPS Q2Q%53.47%
Revenue 1Y (TTM)13.1%
Revenue growth 3Y10.77%
Revenue growth 5Y6.29%
Sales Q2Q%39.08%
3.2 Future
INDB is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 22.52% yearly.
Based on estimates for the next years, INDB will show a quite strong growth in Revenue. The Revenue will grow by 16.17% on average per year.
EPS Next Y24.19%
EPS Next 2Y27.6%
EPS Next 3Y22.52%
EPS Next 5YN/A
Revenue Next Year24.12%
Revenue Next 2Y22.4%
Revenue Next 3Y16.17%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
INDB is valuated correctly with a Price/Earnings ratio of 14.93.
INDB's Price/Earnings ratio is a bit more expensive when compared to the industry. INDB is more expensive than 67.27% of the companies in the same industry.
INDB's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 26.92.
With a Price/Forward Earnings ratio of 10.22, the valuation of INDB can be described as very reasonable.
INDB's Price/Forward Earnings ratio is in line with the industry average.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.46, INDB is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.93 | ||
| Fwd PE | 10.22 |
4.2 Price Multiples
INDB's Price/Free Cash Flow ratio is a bit more expensive when compared to the industry. INDB is more expensive than 70.36% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 18.76 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as INDB's earnings are expected to grow with 22.52% in the coming years.
PEG (NY)0.62
PEG (5Y)N/A
EPS Next 2Y27.6%
EPS Next 3Y22.52%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.12%, INDB has a reasonable but not impressive dividend return.
INDB's Dividend Yield is a higher than the industry average which is at 2.74.
INDB's Dividend Yield is rather good when compared to the S&P500 average which is at 2.00.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.12% |
5.2 History
The dividend of INDB has a limited annual growth rate of 5.56%.
INDB has been paying a dividend for at least 10 years, so it has a reliable track record.
INDB has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)5.56%
Div Incr Years14
Div Non Decr Years30
5.3 Sustainability
INDB pays out 54.90% of its income as dividend. This is a bit on the high side, but may be sustainable.
The dividend of INDB is growing, but earnings are growing more, so the dividend growth is sustainable.
DP54.9%
EPS Next 2Y27.6%
EPS Next 3Y22.52%
75.68
-0.03 (-0.04%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)
Earnings (Next)
Inst Owners85.83%
Inst Owner Change8.29%
Ins Owners0.78%
Ins Owner Change1.2%
Market Cap3.75B
Revenue(TTM)780.44M
Net Income(TTM)179.82M
Analysts82
Price Target85.07 (12.41%)
Short Float %3.92%
Short Ratio6.57
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.12% |
Yearly Dividend2.25
Dividend Growth(5Y)5.56%
DP54.9%
Div Incr Years14
Div Non Decr Years30
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)0.14%
Min EPS beat(2)-1%
Max EPS beat(2)1.28%
EPS beat(4)2
Avg EPS beat(4)-1.93%
Min EPS beat(4)-10.02%
Max EPS beat(4)2.05%
EPS beat(8)3
Avg EPS beat(8)-1.57%
EPS beat(12)6
Avg EPS beat(12)-1.77%
EPS beat(16)9
Avg EPS beat(16)1.94%
Revenue beat(2)1
Avg Revenue beat(2)-0.78%
Min Revenue beat(2)-1.57%
Max Revenue beat(2)0%
Revenue beat(4)1
Avg Revenue beat(4)-0.78%
Min Revenue beat(4)-1.57%
Max Revenue beat(4)0%
Revenue beat(8)1
Avg Revenue beat(8)-1.43%
Revenue beat(12)2
Avg Revenue beat(12)-1.53%
Revenue beat(16)5
Avg Revenue beat(16)-0.96%
PT rev (1m)0.18%
PT rev (3m)4.91%
EPS NQ rev (1m)-0.36%
EPS NQ rev (3m)1.78%
EPS NY rev (1m)0.36%
EPS NY rev (3m)1.34%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.53%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.22%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.93 | ||
| Fwd PE | 10.22 | ||
| P/S | 4.81 | ||
| P/FCF | 18.76 | ||
| P/OCF | 17.44 | ||
| P/B | 1.06 | ||
| P/tB | 1.62 | ||
| EV/EBITDA | N/A |
EPS(TTM)5.07
EY6.7%
EPS(NY)7.41
Fwd EY9.79%
FCF(TTM)4.03
FCFY5.33%
OCF(TTM)4.34
OCFY5.73%
SpS15.74
BVpS71.54
TBVpS46.83
PEG (NY)0.62
PEG (5Y)N/A
Graham Number90.34
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.72% | ||
| ROE | 5.07% | ||
| ROCE | N/A | ||
| ROIC | N/A | ||
| ROICexc | N/A | ||
| ROICexgc | N/A | ||
| OM | N/A | ||
| PM (TTM) | 23.04% | ||
| GM | N/A | ||
| FCFM | 25.63% |
ROA(3y)1.2%
ROA(5y)1.02%
ROE(3y)7.94%
ROE(5y)6.99%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y5.31%
PM growth 5Y-3.04%
GM growth 3YN/A
GM growth 5YN/A
F-Score3
Asset Turnover0.03
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.1 | ||
| Debt/FCF | 1.8 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | 36.29% | ||
| Cap/Sales | 1.94% | ||
| Interest Coverage | N/A | ||
| Cash Conversion | N/A | ||
| Profit Quality | 111.22% | ||
| Current Ratio | N/A | ||
| Quick Ratio | N/A | ||
| Altman-Z | N/A |
F-Score3
WACC11.75%
ROIC/WACCN/A
Cap/Depr(3y)50.27%
Cap/Depr(5y)54.76%
Cap/Sales(3y)2.72%
Cap/Sales(5y)3.15%
Profit Quality(3y)123.13%
Profit Quality(5y)109.73%
High Growth Momentum
Growth
EPS 1Y (TTM)10.22%
EPS 3Y-4.78%
EPS 5Y-4.31%
EPS Q2Q%53.47%
EPS Next Y24.19%
EPS Next 2Y27.6%
EPS Next 3Y22.52%
EPS Next 5YN/A
Revenue 1Y (TTM)13.1%
Revenue growth 3Y10.77%
Revenue growth 5Y6.29%
Sales Q2Q%39.08%
Revenue Next Year24.12%
Revenue Next 2Y22.4%
Revenue Next 3Y16.17%
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-38.5%
FCF growth 3Y8.28%
FCF growth 5Y0.94%
OCF growth 1Y-36.51%
OCF growth 3Y6.53%
OCF growth 5Y1.21%
INDEPENDENT BANK CORP/MA / INDB FAQ
Can you provide the ChartMill fundamental rating for INDEPENDENT BANK CORP/MA?
ChartMill assigns a fundamental rating of 4 / 10 to INDB.
Can you provide the valuation status for INDEPENDENT BANK CORP/MA?
ChartMill assigns a valuation rating of 4 / 10 to INDEPENDENT BANK CORP/MA (INDB). This can be considered as Fairly Valued.
How profitable is INDEPENDENT BANK CORP/MA (INDB) stock?
INDEPENDENT BANK CORP/MA (INDB) has a profitability rating of 2 / 10.
What are the PE and PB ratios of INDEPENDENT BANK CORP/MA (INDB) stock?
The Price/Earnings (PE) ratio for INDEPENDENT BANK CORP/MA (INDB) is 14.93 and the Price/Book (PB) ratio is 1.06.
Can you provide the dividend sustainability for INDB stock?
The dividend rating of INDEPENDENT BANK CORP/MA (INDB) is 7 / 10 and the dividend payout ratio is 54.9%.